By Angela McDaniels
Tacoma, Wash., June 3 – Kinepolis Group NV received tenders for €15,878,000 principal amount, or 21.2%, of its €75 million of 4.75% fixed-rate bonds due March 6, 2019, according to a company news release.
An exchange offer for the bonds ended at 10 a.m. ET on June 1.
Holders who tendered their 4.75% bonds will receive newly issued 4% bonds due 2023 on a par-for-par basis.
Holders will also receive accrued interest on the existing bonds on the settlement date, June 9.
The bonds tendered in the offer will be canceled.
The annual gross nominal interest of the new bonds is equal to 2.754%, the gross interest rate that would apply if the new bonds were issued at par by Kinepolis on a standalone basis excluding any placing fee; plus 1.41%, the report and spreading of the unrealized gain on the existing bonds over the eight-year term of the new bonds; plus a tender premium of 0.1%, less a placing fee of 0.264%.
The net actuarial yield of the new bonds, calculated in economic terms, for natural persons domiciled in Belgium (taking into account the income tax payable by the investors on May 12 including the 25% Belgian withholding tax), amounts to 1.655% per year (calculated on the basis of a reference market price of the existing bonds of 110 on May 12 and on the assumption that the new bonds are retained until their maturity date).
BNP Paribas Fortis, ING and KBC Bank are the dealer managers. KBC is also acting as global coordinator.
Kinepolis is a Ghent, Belgium-based chain of movie theatres.
| Issuer: | Kinepolis Group NV
|
| Issue: | Bonds
|
| Amount: | €15,878,000
|
| Maturity: | June 9, 2023
|
| Coupon: | 4%
|
| Settlement date: | June 9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
